Predictive Analytics as a Catalyst for Disruption in the Fashion Ecosystem

Title

Predictive Analytics as a Catalyst for Disruption in the Fashion Ecosystem

Creator

Sheriff, Naadia Ghalib; Bhattacharjee, Pragya; Kumar, B. R. Gagan

Description

The fashion industry is one of the most dynamic industries, with trends that change constantly being moulded by the changing preferences of consumers. In this dynamic environment it is crucial for companies to adjust to the current market demand, failing which companies might plunge into losses and even face shutdowns. Predictive analytics plays an important role in trend prediction, demand forecasting, optimizing the supply chain and inventory management, personalization, dynamic pricing, waste minimization and prediction of sustainable materials. This, of course, is not without challenges. Data privacy concerns and over reliance on AI algorithms leading to inhibition of human creativity stand out as the most concerning challenges that need to be addressed to ensure that predictive analytics is utilised to its fullest potential in the fashion industry. Predictive analytics and AI can ensure that the fashion industry is not just profitable but also consumer centric and sustainable in its operations thus ensuring long term growth and sustenance of businesses in this industry. 2026 by IGI Global Scientific Publishing. All rights reserved.

Source

Smart Business and Education in the Age of VUCA and BANI;pp.243-272

Date

01-01-2025

Publisher

CRC Press

Coverage

Sheriff N.G., Christ University, Bangalore, India; Bhattacharjee P., Christ University, Bangalore, India; Kumar B.R.G., Christ University, Bangalore, India

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 979-833737924-1; 979-833737922-7;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.4018/979-8-3373-7922-7.ch010

https://www.scopus.com/pages/publications/105027118569?origin=resultslist